Kenneth Feinberg, the pay czar, has caused lots of consternation on Wall Street. People fear he's out to gut their compensation. He will soon start revealing some decisions about pay packages, Reuters reports.

He's now trying to tamp down any undue fears. He is making clear that he's not interested in capping pay nor publicizing the names of specific individuals. Rather he wants policies that are in line with sound risk management and other priorities as well as common-sense compensation practices. He will make public the model and formulas he's using to guide his decisions.

My sense is that most of the entities he's reviewing have little to fear, as long as they were smart when formulating pay policies.

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